Third Quarter Report 2010
The table below shows the figures for 2010 for the period 1 October to 31 December 2010 and full-year 2011 and 2012.
|T/C in days||T/C in costs (USD/day)|
|Total physical days||Covered days|
|Coverage %||Coverage rates (USD/day)|
|Fair value of freight rate contracts that are mark-to-market in the income statement (USD m):|
|Contracts not included above||0.0|
|Contracts included above||0.2|
|Actual no of days can vary from projected no of days primarily due to vessel sales and delays of vessel deliveries. T/C in costs do no include potential extra payments from profit split arrangements.|
Post balance sheet events
TORM has during the fourth quarter, as as announced on 1 November in announcement no. 10, entered into an agreement to sell the two Kamsarmax dry bulk newbuildings with planned delivery to TORM in Q1 2011. The newbuildings have been sold for a total consideration of USD 90 million with a total net loss of USD 16 million. The newbuildings are expected to be delivered to the new owner in the first quarter of 2011, where the effect of the transaction will be recognised in the financial statements.
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